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| CommTouch Software Ltd. |
| 10 Technology Avenue, Ein Vered, Israel 40696 |
| Business Description | The company is a leading global provider of outsourced email and messenging solutions. Their flexible and highly customizable solutions enable the company to satisfy the different email and messengering needs of a wide range of business partners, including web based companies, small websites and businesses worldwide. |
| Offering Information Company has | |||
| Trading As | CTCH (NASNTL) | Industry | Service (SIC 7389) |
| Type of Stock Offered | Ordinary Shares | Filing Date | 05/14/1999 |
| Domestic Shares Offered | 3,000,000 | Offer Date | 07/12/1999 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 |
| Company Shares | 3,000,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $48,000,000 | Selling | $0.660 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 14,192,200 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| U.S. Bancorp Piper Jaffray | Lead Manager | (612) 342-6220 |
| Prudential Securities Incorporated | Co-manager | (212) 778-5420 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-4290 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1996 | 12/31/1997 | 12/31/1998 | 03/31/1998 | 03/31/1999 | ||
| Revenues | - | - | 3.134 | 0.899 | 0.389 | 0.032 | 0.346 |
| Income from Oper. | - | - | -1.237 | -3.405 | -4.025 | -0.892 | -2.040 |
| Net Income | - | - | -1.282 | -3.473 | -4.351 | -0.919 | -2.311 |
| E.P.S | - | - | -0.660 | -2.400 | -3.000 | -0.630 | -1.500 |
| Revenue Growth (%) | - | - | -71.31 | -56.730 | 981.25 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -3.57 | -1.00 | -1.68 | ||||
| Cash Flow - Inv. | -0.44 | -0.06 | -0.95 | ||||
| Cash Flow - Fin. | 4.52 | 0.83 | 5.03 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 6.03 | Current Assets | 4.08 | Current Ratio | 1.53 |
| Total Liab. | 3.22 | Current Liab. | 2.66 | Debt Ratio | 53.41% |
| Total Equity | 2.81 | Working Cap. | 1.42 | Debt to Equity Ratio | 1.15 |
| Cash | 3.23 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for expansion of sales and marketing activities, capital expenditures, expansion of international operations, working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | McCutchen, Doyle, Brown & Enersen |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
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